In mid-October, the market value of all existing stablecoins was US$134 billion. In the past three weeks, the valuation increased by 5.59% to US$141.5 billion. Although the market value of terrausd rose by 6.7% last month, the stablecoin DAI rose by 27.3% in 30 days. The largest stablecoin by market capitalization increased by 6% this month, and the total number of Tether in circulation today reaches 73 billion.

The capitalization of stablecoins increased by 5.59% last month-Makerdao’s stablecoins increased by 27%

On October 13, 2021, the market value of the largest stablecoin held by Tether was US$70.9 billion, and it is now US$73 billion. The stablecoin market USDC is 33.3 billion U.S. dollars, and today it is 34.2 billion U.S. dollars. Although the tethered (USDT) The market value jumped 6% last month, and USDC rose slightly, with a 30-day increase of 5.8%.

Among the top five stablecoins in overall valuation, the stablecoin DAI issued by Makerdao saw the largest increase, rising by 27.3% last month. Terrausd is a stablecoin issued by the Terra network. It has risen by 6.7% in the past month and is the second largest stock in 30 days.

Mstableusd, the magical Internet currency sees triple-digit growth-over time, KLIMA Rebase tokens rise

An outlier among the sixth-ranked top stablecoins is the Magic Internet Currency (MIM), which has grown by 152.3% in 30 days. The market value of the MIM stablecoin issued by abracadabra.money is US$2.5 billion, with a 24-hour transaction volume of US$112 million. At the time of writing, the AVAX-based decentralized exchange (dex) platform Trader Joe is the most active MIM exchange. Although MIM rose by 152% last month, it was the second largest increase because mstableusd (MUSD) rose by 379.4%.

The current market value of MUSD is 139.3 million U.S. dollars and the global transaction volume is 2 million U.S. dollars. Although the market value of top stablecoins has increased, their sibling agreement-rebase tokens-has also increased. However, in the past 7 days, Olympus (OHM), the highest rebase (reserve token), has fallen by 25.5%. The second and third largest rebase tokens wonderland (TIME) and klima dao (KLIMA) have both increased. TIME’s 7-day statistics increased by 38.5%, and KLIMA’s weekly indicators increased by 10.5%.

What do you think of the ever-expanding stablecoin market valuation and the rise of rebase tokens? Please tell us your thoughts on this topic in the comments section below.

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